Binance launches a new entity in Poland

Binance has announced the launch of a new entity in Poland known as Poland sp. z o.o, with its main focus on the Belgium market.

The Belgian Financial Services and Markets Authority (FSMA) recently ordered the company to stop offering its services in Belgium due to violating internal compliance laws.

With the creation of its new entity in Poland, the company will be able to continue offering its services to Belgian residents.

Binance explained that Belgian users will be able to keep using its platform by accepting the terms of use of Binance Poland for Belgian users. In particular, customers might have to resubmit some old information related to KYC to comply with the local regulations.

You might also like: Binance ordered by Belgian regulator to suspend crypto services

Binance’s issues within EU

Since its launch in July 2017, Binance has experienced remarkable growth and has become a popular choice for cryptocurrency traders worldwide.

However, most recently, Binance has faced legal issues in EU due to stricter regulation policies. When the exchange exited Cyprus, they said they had plans to fully comply with the European Union’s Markets in Crypto Assets (MiCA) legislation. 

However, despite this announcement, they have been pulling its operations out of the EU. For instance, the exchange withdrew its application to BaFin for a crypto license in Germany. 

Moreover, Binance is investigated in France for what authorities claim are acts of illegal exercise and aggravated money laundering. 

As a result of different problems that forced the exchange to exit some countries or faced lawsuits, Binance is now getting ready to comply with the new European regulations under the recently approved regulatory framework known as MiCA.

Read more: Binance considers exit from Russia following sanction violations
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

Bitcoin Price Prediction as BTC Starts Recovering and Goes Back Above $26k

Image
Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price started to recover after previously dropping below $26k on June 10th. After nearly two full days of trading sideways, Bitcoin saw two minor price increases, both of which were followed by corrections back to $25,700. However, later on June 12th, the coin started a strong, steady price recovery that took it from $25,736 to $26,236. The coin climbed by $500 in less than 24 hours, followed by a brief correction back to $26,115. After dropping to this level, BTC started growing once again, reaching $26,181 at the time of writing. According to experts, the positive fluctuation in the market suggests that buyers have started showing strength again and were able to push the price upward. The movement is a result of two significant factors — a positive divergence observed on the 1-hour RSI, and the breaking of the downtrend line, indicating a potential shift in the market sentiment from bearish
Read more

Pro-XRP Attorney Explains How This Week Can Become Crypto’s Biggest Week Ever

- Advertisement - Deaton highlights the events that will prove this week as Crypto’s biggest week. - Advertisement - Following Bitcoin ’s rally to $30,000 and upcoming Etherum’s Shanghai upgrade, attorney John Deaton has highlighted the next important event that could make this week the biggest week ever for crypto. For Deaton, this week has been remarkable for cryptocurrency. Bitcoin rallied above $30,000, and the cryptocurrency community eagerly anticipates Ethereum’s Shanghai upgrade scheduled to launch today. While Deaton acknowledges the significance of both events, he asserts that this week will prove to be crypto’s most significant when Judge Analisa Torres issues a ruling in Ripple’s favor. “[…] A great and fantastic ruling from Judge Torres in the @Ripple case next could prove to be Crypto’s biggest week ever,”  said Deaton.  Bitcoin Rallies to $30K and Ethereum’s Upcoming Shanghai Upgrade Notably, Bitcoin broke the $30K resistance yesterday for the first time since June
Read more

What to expect from the crypto market in 2023: Watch The Market Report

On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss what we can expect from the cryptocurrency market in the new year. This week on The Market Report, the resident experts at Cointelegraph discuss what investors can expect from the crypto currency market in 2023. Will this bear market carry on, or will we see the beginning of the bull market ? Also up for discussion is what projects have the potential to make a splash in 2023. We start off this week’s show with the latest news in the markets: 4 ‘emerging narratives’ in crypto to watch for: Trading firm Despite an eventful year fraught with crypto collapses and price drops, Steven Goulden, a senior research analyst at crypto trading firm Cumberland, has pointed to several “green shoots” to break the surface in crypto in 2023. Make sure to listen as our experts go over which industries have the potential to break out in 2023. Crypto community expresses Christmas market sentiments: ‘No Santa rally’ Tr
Read more